Expert on Japan Retail and Consumer Markets, JapanConsuming

Michael Causton

Expert on Japan Retail and Consumer Markets

Real Insight on Japanese Consumer Markets

JapanConsuming

JapanConsuming is a specialist research firm producing intelligence on Japanese retail and consumer markets. Founded in 2000, JapanConsuming has become the leading provider of insights on Japanese retailers and consumer trends to retailers, brands, government agencies and investors. As well as a highly regarded monthly report on the market, JapanConsuming produces in-depth reports on retail sectors, seminars on key trends and telephone consulting to investors on trends and retailers.

JapanConsuming was founded by Michael Causton and Roy Larke. 

Thematic (Sector/Industry)

<ul>
<li>Major wholesalers in food, pharmaceuticals and books continue to prosper due to their role in both serving and protecting fragmented distribution channels.</li>
<li>Profits returned last year as clients picked themselves up after Covid, but as inflation sets in, these middlemen are being squeezed by both manufacturers and retailers and profits may slump.</li>
<li>They now need to offer an ever increasing array of value-added services to continue to grow and not all have the capability. More M&amp;A may be on the cards.</li>
</ul>


Major wholesalers in food, pharmaceuticals and books continue to prosper due to their role in both serving and protecting fragmented distribution channels.
Profits returned last year as clients picked themselves up after Covid, but as inflation sets in, these middlemen are being squeezed by both manufacturers and retailers and profits may slump.
They now need to offer an ever increasing array of value-added services to continue to grow and not all have the capability. More M&amp;A may be on the cards.


Major Japan Wholesalers up 2.8% in 2021, but Problems Looming

Japan's large wholesalers continue to provide a high value service that massages relationships in the supply chain.The top companies had yet another good year in 2018 and are expected to continue to grow both sales and profits as they consolidate market share and absorb smaller businesses.There are clear signs that the market is in the midst of a major structural shift. As these behemoth firms race to reduce over-reliance on labour in the supply chain, the role of small wholesalers will disappear, which in turn will further decimate independent retailing.

Japan's large wholesalers continue to provide a high value service that massages relationships in the supply chain.The top companies had yet another good year in 2018 and are expected to continue to grow both sales and profits as they consolidate market share and absorb smaller businesses.There are clear signs that the market is in the midst of a major structural shift. As these behemoth firms race to reduce over-reliance on labour in the supply chain, the role of small wholesalers will disappear, which in turn will further decimate independent retailing.

Japan Wholesaling: Higher Sales but Digital Shift Will Decimate Smaller Firms

Fintech, Real-time Big-Data Analytics Provider, Nowcast, Inc.

Ryota Hayashi

Fintech, Real-time Big-Data Analytics Provider

Nowcast, Inc.

We at Nowcast develop "Big-Data Economic Analytics Platforms".  We aim to revolutionize the financial markets by providing "accurate" and "real-time" analytics based on economic indicators and corporate activity data procured worldwide. 

Our Main Services

(1) Real-time Analytics
With our Nikkei CPI Now Index at our core, we provide real time analytics of global economic indicators such as POS Data. By utilizing Big-Data technology, we also provide real-time analytics of micro level data such as corporate earnings. 

(2) Big-Data Application Consulting
We too provide business consultation and conduct joint research on initiatives that strive to use data, such as from the operation capacity of construction machinery to number of passengers on railroad trains, as economic indicators. We provide continuous support to Data Scientists specialized in economics in their proposal stage, product development and up till its business development. 

(3) Monetary Policy Insights
With the proactive involvement of and support from from academicians in macroeconomics & key figures in the financial industry, we produce reports, conduct seminars and meetings that discuss about the forecast of financial markets, provide intellectual suggestions on asset allocation, etc. 

Macroeconomics

<ul class="ember-tether-target ember-tether-element-attached-top ember-tether-element-attached-left ember-tether-target-attached-top ember-tether-target-attached-right"><li>"Nikkei CPINow" is a statistical database produced by Nowcast Inc. that provides real-time economic statistics using so-called “big data” gathered on a real-time basis; making it possible to “nowcast” economic developments, that is, to gauge them almost in real time.</li><li>Nikkei CPINow was launched in January 2016, disseminating the new “CPINow” price indeces, which succeeds and improves upon the Nikkei UTokyo Daily Price Index.</li><li>This December 2016 Review looks into analyzing the current developments in Japan's economy based on The Nikkei CPINow S index &amp; T index.</li></ul>

"Nikkei CPINow" is a statistical database produced by Nowcast Inc. that provides real-time economic statistics using so-called “big data” gathered on a real-time basis; making it possible to “nowcast” economic developments, that is, to gauge them almost in real time.Nikkei CPINow was launched in January 2016, disseminating the new “CPINow” price indeces, which succeeds and improves upon the Nikkei UTokyo Daily Price Index.This December 2016 Review looks into analyzing the current developments in Japan's economy based on The Nikkei CPINow S index &amp; T index.

December 2016 Review of Current Developments in Japan's Economy

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>On 14 November, media outlets reported that Sapphireterra has <a href="https://img1.wsimg.com/blobby/go/e7ddad68-3d70-4201-b3f3-16f665298127/downloads/055ae6dd-96a9-457f-baab-01eafcc12759/STC%20IS%20Press%20Release%202025-11-05%20E%20FINAL.pdf?ver=1763150335833" target="_blank" rel="noopener">sent a letter</a> to the <a href="https://www.smartkarma.com/entities/itochu-shokuhin-co-ltd" target="_blank" data-smartkarma-citation="entities:14985:1" rel="noopener">Itochu Shokuhin (2692 JP)</a> Board suggesting two strategic alternatives to improve shareholder returns. </li>
<li>Sapphireterra has suggested that <a href="https://www.smartkarma.com/entities/itochu-corp" target="_blank" data-smartkarma-citation="entities:18448:1" rel="noopener">Itochu Corp (8001 JP)</a> privatise Itochu-Shokuhin at JPY14,000, a 50.5% takeover premium. Due to the shareholder structure, Itochu does not need to be this generous.</li>
<li>Sapphireterra has also alternatively suggested JPY7,000 special dividend. The strong YTD share performance suggests no pressing need for the Board to act on this proposal. </li>
</ul>


On 14 November, media outlets reported that Sapphireterra has sent a letter to the Itochu Shokuhin (2692 JP) Board suggesting two strategic alternatives to improve shareholder returns. 
Sapphireterra has suggested that Itochu Corp (8001 JP) privatise Itochu-Shokuhin at JPY14,000, a 50.5% takeover premium. Due to the shareholder structure, Itochu does not need to be this generous.
Sapphireterra has also alternatively suggested JPY7,000 special dividend. The strong YTD share performance suggests no pressing need for the Board to act on this proposal. 


Itochu-Shokuhin (2692 JP): Itochu Likely to Shrug off Sapphireterra’s Privatisation Call

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mitsubishi-shokuhin-co-ltd" target="_blank" data-smartkarma-citation="entities:19778:1" rel="noopener">Mitsubishi Shokuhin (7451 JP)</a> has recommended a tender offer from <a href="https://www.smartkarma.com/entities/mitsubishi-corp" target="_blank" data-smartkarma-citation="entities:20668:1" rel="noopener">Mitsubishi Corp (8058 JP)</a> at JPY6,340 per share, a 17.2% premium to the undisturbed price.</li>
<li>While the offer represents an all-time high, it is materially below the midpoint of the IFA DCF valuation range. </li>
<li>The light offer resulted from an unusually long process, with twelve rounds of proposals. However, the shareholder structure suggests a done deal.  </li>
</ul>



Mitsubishi Shokuhin (7451 JP) has recommended a tender offer from Mitsubishi Corp (8058 JP) at JPY6,340 per share, a 17.2% premium to the undisturbed price.
While the offer represents an all-time high, it is materially below the midpoint of the IFA DCF valuation range. 
The light offer resulted from an unusually long process, with twelve rounds of proposals. However, the shareholder structure suggests a done deal.  


Mitsubishi Shokuhin (7451 JP): MitCorp (8058 JP) Light Tender Offer at JPY6,340

Japan

KATO SANGYO CO., LTD. is a wholesaler which handles processed foods including seasoning, dried foodstuffs, soft drinks, and frozen and canned foods.  The Company has a distribution network through supermarkets and co-op stores.

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Kato Sangyo (9869 JP)

Major Japan Wholesalers up 2.8% in 2021, but Problems Looming

Wholesalers in Japan had a good year last year. The biggest firms like Medipal may prosper but there are challenges for the sector which could...

Michael Causton

Japan Wholesaling: Higher Sales but Digital Shift Will Decimate Smaller Firms

Japan's large wholesalers continue to provide a high value service that massages relationships in the supply chain.The top companies had yet...

Michael Causton

December 2016 Review of Current Developments in Japan's Economy

"Nikkei CPINow" is a statistical database produced by Nowcast Inc. that provides real-time economic statistics using so-called “big data”...

Nowcast, Inc.

Itochu-Shokuhin (2692 JP): Itochu Likely to Shrug off Sapphireterra’s Privatisation Call

Sapphireterra has suggested two proposals (privatisation by Itochu, special divs) to improve shareholder returns. The Board is likely to react to...

Arun George

Mitsubishi Shokuhin (7451 JP): MitCorp (8058 JP) Light Tender Offer at JPY6,340

While the offer represents an all-time high, it is materially below the midpoint of the IFA DCF valuation range. However, the shareholder structure...

Arun George

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